The Society for Innovation & Entrepreneurship (SINE) at IIT Bombay is launching a substantial Rs 100-crore venture capital fund aimed at bolstering deep tech startups and critical national sectors.

SINE's leadership has highlighted the necessity for India to ramp up its startup output from 100 to 1,000 startups per million population to create a meaningful impact.

With a 20-year history, SINE has incubated 245 startups valued at USD 3.56 billion and has raised USD 942 million in funding, achieving an impressive 80% survival rate.

Successful alumni from SINE include notable companies such as Atomberg, ImmunoACT, SAFE Security, and Zeus Numerix.

The social impact of SINE's startups spans various sectors, including advancements in medtech, clean energy, and agritech, exemplified by Lifespark Technologies and SustLabs.

Milind Atrey, Deputy Director of Academics at IIT Bombay, emphasized SINE's commitment to supporting early-stage tech startups, particularly in hardware, which face unique market challenges.

SINE provides essential resources for startups, including shared workspaces, prototype labs, and access to IIT Bombay's advanced laboratories, fostering innovation.

As a preferred partner for various central ministries, SINE strategically selects startups based on their economic, social, or national significance.

Once regulatory approvals are secured, SINE plans to leverage its network of IIT Bombay alumni for fundraising, tapping into their influence across multiple industries.

This new fund seeks to significantly increase the number of supported startups from 245 to over 1,000 within the next decade.

Current incubated companies at SINE include innovative startups like Haystack Analytics, SustLabs, Babblebots.ai, Inspecity, and Lifespark Technologies, each addressing significant societal challenges.

SINE has also guided around 60 incubators across India under various government schemes, significantly enhancing the national startup ecosystem.